Former governor of Adamawa State, Murtala Nyako, son of ex-UN Secretary-General, Kofi Annan, Mr. Kojo Adeyemo and former chief of defence staff, General Domkat Bali were among prominent individuals named as major debtors of some commercial banks.
Founder, Leadership Newspapers Group, publishers of Leadership Newspaper Sam Nda-Isaiah, a retired General A. B. Mamman, former Senator David C. Brigidi as well as many business and religious bodies made the list of over 500 firms listed among customers said to owe banks monies running into billions.
At least six Deposit Money Banks (DBMs) yesterday commenced the publication of the names of their delinquent debtors with 522 companies and their directors with the amount of debts owed.
The banks include Union Bank with 176 bad debtors, Skye Bank (107), Enterprise Bank (102), Sterling Bank Batch A (61), Zenith Bank (37) and Guaranty Trust Bank Plc (39).
More banks are expected to publish their defaulters names this week. Some banks have threatened to continue the publication until an amicable resolution is reached with them.
The banks have classified the facilities in their books as overdrafts, project financing, term loans, among others and ranged from one to over five years.
Union Bank is owed huge sums by debtors that include Nyako whose name appeared in the list as one of the directors of Noble Heavy Duty Ind. The firm owes the bank N115.5 million for a term loan facility granted on 11/24/08 which expired on 5/20/09. The names of the other directors were given as Estate of Kingsley A. Jumbo and Lucky Omole.
Six customers collectively owe the bank N27.91 billion. Three oil companies are in the list of the top five debtors. They are Dec Oil & Gas, owing N15.7 billion following a 1999 contract finance loan that expired in 2000.
Controversial son of ex-UN Secretary-General Kojo made the list of the top five major debtors of mid-tier lender, Union Bank.
Kojo who is the only son of Annan was named with Mr Akinwole Omoboriowo and Dr Timi Auten-Peter as directors of the Petroleum Project International Ltd. They were granted a term loan worth about N1.25 billion on 1/30/2004 and have failed to service the loan which expired since 12/31/2004.
PPI, an indigenous petroleum trading company was reported to have secured $800 million (about N108 billion then) to acquire Federal Government’s 51 per cent equity share in the Port Harcourt Refining Company near Eleme, Rivers State.
Alhaji Najeem Usman Yasin named as a director in National Union of Road Transport Workers (NURTW) Niger State and president of the union owes the bank N392.7 million for a loan obtained two years ago which expired April 2015. Two others were listed as directors in the union.
The top five debtors of Zenith bank collectively owe over N2.4 billion with prominent politicians and retired military officers topping the names behind the companies. The bank’s biggest debtor is Gen. Yunana Nom (rtd), a member of the then Armed Forces Ruling Council (AFRC) under Gen. Sani Abacha.
He was listed as one of the six directors of Energy Company Nigeria Limited. Nom is also said to own Belphins Nigeria limited, a company engaged in ginger farming and exportation located in Kaduna.
Energy Company Nigeria Limited owes the bank N743.4 million outstanding for a term loan granted in January 2012.
Southfield Petroleum Limited Facility which has a former senator, David C. Brigidi (1999-2003) was chairman senate committee on petroleum and natural resources and two other directors owe Zenith Bank N323.9 million for an import finance granted by the bank in 2007 which expired in 2008.
Politicians and top business moguls are not only notorious for defaulting in their loans to the bank. The CFI (El-Shaddai) ministries with Bishop Dr. Olarenwaju Joseph as one of the three directors owed the bank N239.2 million term loan which expired just 15 July 2015.
Former presidential aspirant on the platform of the All Progressives Congress (APC) Nda-Isaiah and his wife Mrs Zainab Nda-Isaiah are on the Enterprise Bank’s list of loan defaulting customers.
Mrs Zainab Nda-Isaiah is the CEO of Banana Republic which owes the bank N114.2 million for a term loan/overdraft granted on 25 July 2013 which expired 24 July 2014.
Lucratel Limited with four directors including a Domkat Bali has credit facilities with Fidelity Bank to the tune of N262.3 million for a Project Finance facility granted the firm. The loan expired June 2009. Other directorslisted are Frank Abayilo, Janet Oreyi Gamae, Adetokunbo B. Adesanya.
Other Fidelity Bank’s debtors include the telephone firm Starcomms Limited, which owes N3.08 billion cumulatively in the three accounts it runs with the lender under the same name and directors.
Other companies on the list are mostly energy, oil and gas companies. The total number of debtors on the list is 28.
The publication of these lists is in compliance with the directive from the CBN to publish on a quarterly basis debtors with outstanding amount of N50 million and above.
